Persistent Systems, a global leader in digital engineering and enterprise modernization, announced the launch of Contract AssIst , an AI-driven contract management solution developed in collaboration with Microsoft. Powered by Microsoft Azure, Microsoft 365 Copilot, Microsoft Teams, and advanced AI technologies, Contract AssIst simplifies workflows, improves collaboration, and reduces operational complexity, enabling organizations to achieve greater efficiency and optimize costs.
Many businesses struggle to track and manage the large volume of contracts with different vendors, leading to inefficiencies and productivity losses. Contract A ssIst leverages Microsoft’s robust technology ecosystem to deliver advanced contract management capabilities. Built on Azure AI, the solution ensures secure data processing, advanced search capabilities, and seamless compliance. It integrates with Microsoft 365 Copilot and Microsoft Teams, providing teams with real-time collaboration tools and AI-driven decision support, while advanced models such as GPT-3.5 and GPT-4 via Azure OpenAI Service enhance contract analysis through natural language processing. Observability tools such as Elastic and Application Insights ensure scalability and transparency, making Contract A ssIst a holistic contract management solution for business needs.
Addressing key challenges, Contract AssIst consolidates workflows into a centralized dashboard within Microsoft Teams. Its AI-powered chatbot enables conversational queries and offers intelligent suggestions within group chats, reducing time and optimizing processes. Other features include real-time version tracking, contract comparison, instant notifications, and approval summaries.
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Unlike other solutions on the market, which often rely on limited automation or standalone tools, Contract A ssIst stands out for its deep integration with Microsoft technologies and its ability to provide useful and timely information. Its transparent and auditable workflows improve compliance of internal contract management, reduce risks and ensure that companies can optimize their operations and make confident, data-driven decisions. Contract A ssIst offers other important advantages:
• Reduced communication overheads with a 95% reduction in email communications
• Improved productivity, saving 20-25 minutes per user per day through streamlined navigation and workflows
• Significant savings by reducing annual licensing expenses.
SOURCE: PRNewsWire